A new car is an attraction for only a short period of time. Happiness that your new car may bring your way is only temporary. Tomorrow already your excitement will be gone and you will start wishing to buy an apartment or a house. It is just how it goes in life. After we buy or achieve something, we immediately start wishing for something else. That is how our life can pass by if we do not learn to enjoy and appreciate what we already have.

Below listed are strong reasons why you should resist the desire to buy a new car.

1. A new car will not alleviate the emptiness you may be feeling in your heart

A new car will not alleviate the emptiness that you may feel inside of you, but will certainly increase the level of your financial responsibility. But, it will be an extra financial burden on your already tight budget in today's insecure times. It would be better to ask yourself what are you lacking in your life currently that you think your new car will make up for. Is it love or security that your heart might be yearning for? Whatever it is, know that money, a new car or any other purchase will not bring lasting happiness to you.

2. Your new car will depreciate in value over time

We are living in time of economic crisis where we should be avoiding luxuries and concentrating on essentials. However, even if you have extra money, no economist would advise you to buy a new car in today's times. A new car is not an investment but a luxury. As soon as you take it out of the store, the car's value will no longer be the same. In fact, it will diminish significantly in value during the first year and then continue to decline as years go buy. Thus, only one year after your purchase, you will no longer be able to regain the same amount of money invested into it.

Not to mention that if you got into a car accident by chance, you would have to chase after the insurance. Why have to go through all that hassle if you don't really need to?

3. Sometimes it is wiser to have a reliable rather than a new car that is not tested

It might be wiser to rely on a reliable car that serves you well even though it is not new. Everything today is being mass produced in factories. Cars are manufactured in such large quantities that the quality of cars in certain cases turns out to be lower now then it was the case in the past. So, why take the chance if you already have a decent car to drive? And what if you find out that your old car proves to be better than your new one?

3. You would be better of with an investment than a luxury in today's times

No good economist would advise you buy a new car in times of economic recession. Rather than buying a new car that will soon become old, you would be better off investing into a small property or a piece of land. If you own property, you can always rent it and earn passive income off of it. Thus, you would manage to diversify your source of income which is crucial for survival in today's times.

4. You would be better off investing into an emergency fund

Perhaps the time of economic recession is not the best time for buying a new car. It is better to have your money saved up in an emergency fund in case you loose your job or get ill as life can bring all kinds of surprises our way when we least expect them.

5. Save your money while waiting for a new car to become cheaper

The way the situation is progressing, cars might get even cheaper in the future. Thus, be wise and save your money while waiting for a new car to become even cheaper and thus a real good deal for you. Thus, don't buy your new car now but work hard to save up cash for purchasing your new car in two or three years or whenever you manage to save up cash for it.

Learn more about this author, Amela Piric.
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